CANADA STOCKS-TSX may open higher, buoyed by commodity prices

Oct 13 (BestGrowthStock) – Toronto’s resource-heavy main stock
index could open higher on Wednesday as commodity prices got a
boost after the Federal Reserve signaled the U.S. economy may
need extra stimulus.

FACTORS TO WATCH

* Canadian equity futures (0#SXF:: ) pointed to a higher
open.

* U.S. stock index futures pointed to a higher open on
Wednesday, boosted by growing expectations of further
quantitative easing by the Federal Reserve and on strong
results from JPMorgan and technology firm Intel. [.N]

* European shares touched a three-week high, with
technology shares among the top performers. [.EU]

* Shares in Asia rose with Hang Seng Index recovering
sharply from its losses to close 1.5 percent higher led by
financials, and as investors scooped up property shares hit by
profit-taking after authorities announced new steps to cool
prices.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index (.CRB: ), a global
commodities benchmark, rose 0.76 percent in early trade.

* Oil rose above $82 after China’s crude imports jumped
last month, while a weaker dollar and expectations of further
policy easing in the United States burnished the appeal of
commodities for investors. [O/R]

* Gold held at its highest in nearly a week after the
Federal Reserve signalled the U.S. economy may need extra
stimulus, which hit the dollar, while evidence of strong
investment demand lifted palladium. [GOL/]

* Copper rose to its highest level in more than two years
on Wednesday, buoyed by dollar weakness and expectations of
stimulus measures in the United States, the world’s largest
economy. [MET/L]

CANADIAN STOCKS TO WATCH

* First Quantum Minerals (FM.TO: ): The miner on Wednesday
said Zambia will continue to attract greater investment in the
African Copperbelt than the Democratic Republic of Congo until
Congo is better able to enforce the rule of law.
[ID:nLDE69C0NF]

* Exfo Inc. (EXF.TO: ): The company on Tuesday posted a
fourth-quarter profit (Read more your timing to make a profit.) helped by its telecom unit, and said it
expects to post higher quarterly results in the first quarter.
[ID:nSGE69B0KR]

* Western Forest Products Inc. (WEF.TO: ): The forest
products company said its CEO Stephen Frasher resigned, and
will be replaced by former CEO Dominic Gammiero, who is also
the chairman of the company. [ID:nSGE69B0LK]

* Equinox Minerals Ltd. (EQN.TO: ): The miner raised its 2010
copper output projection for the Lumwana copper mine in Zambia
to 140,000 tonnes from 135,000 tonnes after posting strong
third-quarter production results. [ID:nLDE69C0RL]

ANALYST RECOMMENDATIONS

Following is a summary of research actions on Canadian
companies reported by Reuters. [RCH/CA]

* Equinox Minerals (EQN.TO: ) rating cut to underperform from
market perform on valuation at Raymond James

($1=$1.003 Canadian)
(Reporting by Bangalore Newsroom; editing by Jeffrey Hodgson)

CANADA STOCKS-TSX may open higher, buoyed by commodity prices